Question
How to Calculate ROI for Meeting Tools
The formula, and the inputs to measure.
ROI = (value gained - tool cost) / tool cost x 100.
We give no typical ROI, because we found no source for one. Use your own numbers.
How to work it out
- Count the hours a person spends on notes and follow-up each week.
- Measure how many of those hours the tool saves in a one-month trial.
- Multiply the hours saved by the hourly cost of that person.
- Subtract the tool's price, divide by that price, and multiply by 100.
Can you show an example?
This example uses made-up inputs. If one person saves 2 hours a month at $50 an hour, the value is $100. With a tool at $10 a month, ROI is (100 - 10) / 10 x 100 = 900%.